Saturday, January 12, 2019

Is General Motors expanding to China?

Remember when we bailed out GM during the Obama years?

Since the bailout, 70% have been built outside the U.S.  11 joint ventures in China. denies this, yet when you read through it, it confirms it!  Apparently, the fact that the headquarters are in Michigan is enough for them.

GM is still a U.S.-based multinational auto company, incorporated in Delaware and headquartered in Detroit. In fact, according to the Congressional Budget Office, about 33 percent of the stock in GM is still owned by the U.S. Treasury as a result of a taxpayer-assisted bankruptcy and downsizing in 2009.

But the company sells cars in more than 120 countries and accounted for nearly 12 percent of all car and truck sales worldwide last year (11.9 percent, according to GM’s annual report). It’s also true that China is now the largest market for car sales on earth. Total car sales in China surpassed those in the U.S. in 2009. China retained the lead in 2011, and that lead is expected to grow in the future. (FactCheck)

"Today's announcement by General Motors that they are importing the Envision from China is a slap in the face to U.S. Taxpayers and the men and women who worked so hard to save GM during its darkest time," she said. "General Motors continues to use the slogan, 'Build it where you sell it.' The Company should adhere to their own words and should reconsider this decision and place this product into one of their facilities in the United States." (UAW)

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